Zacks Research Brokers Cut Earnings Estimates for Chubb Limited (NYSE:CB)

Chubb Limited (NYSE:CB) – Investment analysts at Zacks Research lowered their Q2 2024 EPS estimates for Chubb in a research note issued on Monday, July 22nd. Zacks Research analyst T. De now expects that the financial services provider will post earnings of $5.02 per share for the quarter, down from their previous forecast of $5.32. The consensus estimate for Chubb’s current full-year earnings is $20.93 per share. Zacks Research also issued estimates for Chubb’s Q3 2024 earnings at $4.78 EPS, Q4 2024 earnings at $5.67 EPS, Q1 2025 earnings at $5.81 EPS and FY2025 earnings at $22.50 EPS.

Chubb (NYSE:CB) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $5.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.34. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.04 billion. Chubb had a net margin of 17.99% and a return on equity of 16.29%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.92 earnings per share.

CB has been the subject of a number of other reports. William Blair lowered shares of Chubb from a “market perform” rating to an “underperform” rating in a research report on Friday, June 28th. Piper Sandler restated an “overweight” rating and set a $282.00 target price on shares of Chubb in a research report on Monday, April 1st. Royal Bank of Canada restated an “outperform” rating and set a $285.00 target price on shares of Chubb in a research report on Friday, June 28th. JMP Securities upped their target price on shares of Chubb from $280.00 to $300.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, Evercore ISI upped their target price on shares of Chubb from $270.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $269.55.

Chubb Stock Performance

CB opened at $260.04 on Tuesday. The firm has a market cap of $105.59 billion, a P/E ratio of 11.54, a PEG ratio of 6.14 and a beta of 0.66. Chubb has a 1-year low of $195.36 and a 1-year high of $275.41. The company has a 50 day simple moving average of $262.18 and a two-hundred day simple moving average of $253.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.29 and a quick ratio of 0.29.

Hedge Funds Weigh In On Chubb

Several institutional investors have recently made changes to their positions in CB. LRI Investments LLC grew its stake in Chubb by 28.4% in the 2nd quarter. LRI Investments LLC now owns 1,357 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 300 shares during the period. EdgeRock Capital LLC acquired a new stake in Chubb during the 2nd quarter worth $49,000. Advisory Resource Group boosted its stake in Chubb by 5.6% during the 2nd quarter. Advisory Resource Group now owns 3,731 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 198 shares during the last quarter. Family Firm Inc. acquired a new stake in Chubb during the 2nd quarter worth $66,000. Finally, Grove Bank & Trust boosted its stake in Chubb by 11.7% during the 2nd quarter. Grove Bank & Trust now owns 3,496 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 367 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Peter C. Enns sold 8,200 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.06, for a total value of $2,181,692.00. Following the completion of the transaction, the executive vice president now directly owns 45,853 shares of the company’s stock, valued at approximately $12,199,649.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 34,707 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $251.98, for a total transaction of $8,745,469.86. Following the completion of the transaction, the chief operating officer now directly owns 284,136 shares of the company’s stock, valued at $71,596,589.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,552 shares of company stock worth $12,149,985. Corporate insiders own 0.86% of the company’s stock.

Chubb Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a $0.91 dividend. This is a boost from Chubb’s previous quarterly dividend of $0.86. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, June 14th. Chubb’s dividend payout ratio (DPR) is currently 16.16%.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.